Trump's tariff obsession is only getting worse | Fareed's Take


Channel: CNN
Uploaded by CNN on 20260803
Categories: News & Politics
Tags: news, cnn, trump, c.n.n., tariffs, economy, global economy, hungary, orban, fareed, fareeds take, zakaria
CNN's Fareed Zakaria examines the flaws and falsehoods of Trump's global tariffs, from the paradox of America's reliance of forced labor goods to the decline of American manufacuring under his administration. Also, Fareed unpacks Hungary's 'regime change' as Prime Minister Peter Magyar attempts to dismantle the political system bu

Trump's Tariff Obsession

Escalation After Court Ruling: Following the Supreme Court striking down sweeping "Liberation Day" levies in February for lacking emergency powers, the administration sought unusual and obscure methods to restore similar tariffs, imposing 10% to 12% duties on over 80 economies [00:03].

Controve

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rsial Rationale: The administration utilized alleged forced labor issues involving countries like Cambodia, China, Norway, Japan, and Australia as a legal pretext to subvert the spirit of the Supreme Court ruling, effectively manufacturing a falsehood to evade the nation's highest court [00:52].

Economic Impact: Manufa

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cturing construction dropped significantly from its peak, employment fell by roughly 75,000 jobs since the administration returned, and small businesses like Arizona-based Falco faced soaring aluminum costs, freezing hiring and shrinking workforces [02:44].

Upside-Down Logic: By heavily taxing the vast midstream and do

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wnstream industrial base to protect a tiny upstream smelting fraction, the administration turned the US into the most protectionist major advanced economy, resulting in higher prices, weaker investment, and fewer jobs [04:44].

Political Transition in Hungary

Regime Change and the Orban Legacy: Following a landslide def

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eat of long-standing populist Prime Minister Viktor Orbán in April by Peter Magyar, the new government launched "operation cleansing fire" to dismantle 16 years of illiberal state infrastructure, court-packing, and media control [05:51].

The Dilemma of Democratic Repair: Magyar's party utilized a two-thirds supermajori

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ty to purge loyalists and force out the pro-Orbán president quickly, drawing criticism from human rights groups for bypassing traditional due process and echoing past autocratic tactics [08:43].

Institutional Restraint: While Magyar passed a bill capping a prime minister's term to eight years, experts warn that relying

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on self-constraint leaves the political system fragile, and the upcoming public referendum on a new constitution will be the ultimate test of whether Hungary can permanently reverse populism [09:21].

https://www.youtube.com/watch?v=9kSORYyI86o

Trump's tariff obsession is only getting worse | Fareed's Take

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Viewer Discussion & Comments

@LuciaChaurand
The u.s. attacks itself and blames other countries
@Brad-v2w2l
For Trump, this is a way to exercise his power. Nothing to do with economics.
@billhiggins2297
Canada is now sending its high quality low carbon aluminim to the EU because of Trump tariffs. Those are long term supply contracts and it will not be coming back. USA had an inexpensive aluminum producer next door and Trump said we don't want it. He is an idiot.
@bobwoods1302
Trump is doing to America what no enemy has been able to do.
@Darrylx444
As a Canadian, I remember back when his fake excuse for tariffs was fentanyl.
@zzzT.
Gentle reminder: tariffs are taxes. Universal taxes on Americans. They shrink economies and make prices of imports higher. They also prolonged the great depression of the 1930s. 🤠
@iggy5347
American consumer😂 pay the tarrif
@Mondfischli
...El Tariffico, the King of deficits 😂
@pauldiamond9219
Dont US prisons have inmates make all manner of goods for literally pennies per hour? Wouldnt that also be 'forced labor'?
@user-gi8qu6zp3l
Always great to hear from you Fareed - hugs from 🇨🇦
@kerstinengelhardt1993
Make sure the smoke doesn't cross the border 🇨🇦
@michaelvanstiphout5507
Idiot is destroying the Country 😢
@kepler186f4
The trump tax is harming the average American more than any other nations citizens on the planet.
@mr.v4vendetta
TRUMP uses tariffs to blackmail other countries so he can make money. Trump doesnt care that it hurts the economy and americans have to pay more
@Debbie-g7s
Can always count on Fareed for the truth about what is going on, especially what damage Trump is constantly doing!!!